Investment wine

With stock markets dropping like flies, I was browsing my sent mail items and noted that a year ago I was offered a commission to write a supplement on SA investment wines for a major financial magazine. I declined as I thought then, and as I do now with hindsight knobs on, that SA wine is not a viable asset class. There are several reasons for this:

Absence of a secondary market

Do SA reds improve with age? – ask Alan Pick. Where are the much-touted ’95s today?

Are SA reds good enough to collect? – influential foreign wine writers say no. I would disagree, but perception and marketing is all;

Is there any respect for age? – restaurant wine lists seem happy to offer current vintages;

Nederburg Auction volumes and prices are static at best (and down 10% this year with unsold lots galore);